Who Could Have Foreseen This ?

” One of the biggest mistakes liberals tend to make is assuming a static response from the people being taxed.

This is a big mistake, particularly when you’re talking about the rich. The rich — being rich — have lots of options. They can hire the best accountants to find loopholes, hire lobbyists to create loopholes, shift their money around to protect it from the tax man, stop working, and, yes, as the Britons are finding out, they can also JUST LEAVE.

In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs.

This number fell to just 6,000 after Gordon Brown introduced the new 50p top rate of income tax shortly before the last general election. “